Realty prices have gone up across Andhra Pradesh after the state government revised land market values in urban pockets. According to a memo issued by the Revenue Department's special secretary, the revised rates will come into effect from February 1.
This marks the second land value revision after the Chandrababu government came to power. The government has increased market values by 15 percent in new districts, commercial hubs, and fast-developing urban areas across the state.
Officials believe the revised rates will significantly boost revenue collections. Estimates suggest the Stamps and Revenue Department may generate around Rs 13150 crore during the current financial year due to the higher market values.
Analysts view this move as a stable and important source of income for the state exchequer. The impact is expected to be felt mainly in urban cities, growth corridors, and key commercial zones.
However, the hike is likely to raise registration and stamp duty charges. This could increase overall transaction costs, affecting both buyers and sellers in the real estate market.
Overall, the market value hike, along with clarity on the legality of Amaravati, has lifted public sentiment. Many citizens in Andhra Pradesh are now optimistic about real estate growth and long-term stability.